Emmerson Resources Ltd (ASX:ERM) has ‘exceeded expectations’ with high-grade results from the Hermitage prospect of the Tennant Creek Project in the Northern Territory, demonstrating the copper-gold and cobalt-bismuth potential of the target area.
Diamond and reverse circulation (RC) drilling at the emerging Hermitage discovery returned grades including:
HERCDD010:
- 94.4 metres at 2.74% copper, 5.58g/t gold, 17.88g/t silver, 0.44% bismuth from 85 metres, including:
- 17.8 metres at 1.57% copper, 0.22g/t gold, 0.17% cobalt, 0.11% bismuth from 85 metres, and:
- 5.8 metres at 3.4% copper, 0.53g/t gold, 0.33% cobalt and 0.24% bismuth from 95.4 metres;
- 21.2 metres at 2.62% copper from 129 metres;
- 5.8 metres at 11.06% copper, 0.98g/t gold, 0.15% cobalt and 0.27% bismuth from 150.2 metres;
- 21.6 metres at 4.11% copper, 25.91g/t gold, 74.89g/t silver and 1.83% bismuth from 157 metres, including:
- 9.4 metres at 7.27% copper, 58.02g/t gold and 3.74% bismuth from 159.4 metres, and:
- 4.8 metres at 19.44% copper, 214.39g/t gold, 103.8g/t silver, 13.75% bismuth and 0.12% cobalt from 164 metres.
HERC009:
- 41 metres at 1.05% copper from 96 metres, including: 3 metres at 1.36% copper and 1.34g/t gold from 111 metres, and 9 metres at 2.50% copper and 0.17% cobalt from 120 metres.
HERC008:
- 24 metres at 1.03% copper and 0.10% cobalt from 117 metres.
“Grades increase with depth”
“This phase two drill program has exceeded expectations in terms of confirming the initial high grade copper discovery (drill hole HERC003 of 116 metres at 3.4% copper and 0.88g/t gold), with the addition of high-grade gold, cobalt, and bismuth,” Emmerson Resources managing director Rob Bills said.
“Encouragingly, the gold, silver and bismuth grades increase with depth with the best intersection (4.8 metres at 19.4% copper, 214.4g/t gold, 103.8g/t silver, and 13.75% bismuth) being immediately above and truncated by the fault, with potential to extend these grades with further drilling below the fault.
“The addition of cobalt and bismuth in these latest assay results adds to the inventory of future-facing metals relevant to the battery, superconductor, magnet, and 3D printing, suite of metals.
“The relatively constrained plan/horizontal footprint is on scale with many of the other Tennant Creek orebodies – the differentiator being that Hermitage is shaping up as a high-grade, multi-commodity discovery.
“Following the receipt of the final assays in this program, the geological model will be updated, and more drilling planned to test the extent of the high-grade mineralisation, particularly beneath the fault.”
Assays are still pending for drill holes HERCDD005 and HERCDD006. Following their receipt, Emmerson will begin planning the next stage of exploration.
The company intends to generate new projects in the Southern Project Area (the SPA is the subject of the exploration earn-in and joint venture with TCMG) using data from a recent high-resolution drone aeromagnetic survey.
ERM will also begin drilling for extensions and updating the resource model for the Golden Forty Mine, and plans to complete geophysical drone surveys across key areas of the Northern Project Area.